Daily Market Price Updates and Commentary 1st June 2026

The week started positively with Jul’26 trading around 0.10 points higher, and it maintained this initial platform as it looked to build upon Fridays recovery. A stronger whites market then inspired some additional buying to build upon this start with the price quickly moving to the 14.30 area where it was able to consolidate for a period. Trading was by no means dynamic, however there was noticeable movement from buyers who were raising limits in belief that they had missed the sub 14c lows and this enabled the picture to remain firm in the 14.40 area moving into the afternoon. There was no change to the situation as the Americas joined the fray, however prices looked to be holding firm against the stronger energy sector, and eventually this did draw some additional buying interest/ Jul’26 worked its way ahead to 14.58 before stalling, with grower pricing still creeping through despite these representing the levels we were seeing less than a week ago. Specs and smaller traders closed out some longs during the final hour which generated a small retreat from the highs, but most of the daily gain remained in place with settlement reached at 14.45 to place the market firmly in the centre of the current broad 13.50/15.50 range.

Aug’26 accelerated ahead to $446.50 on the opening as aggressive buying pushed into a vacuum, and while the following hour saw a retreat which erased around half of the early net gain the mood remained positive. By the middle of the morning traders were pushing more aggressively from the long side and had taken values through to new highs and with any selling being easily filled the gains continued to accumulate. This progress was creating far stronger values for the white premiums, and Aug/Jul’26 was nudging towards $135.00 as the market recorded highs at $452.70. Buying started to dry up during the early afternoon and there was a sharp retreat to $443.10 against long liquidation which erased the white premium gain before things turned around again. A steadier climb followed over the next few hours, and the market managed to match the earlier highs, placing it strongly as the final hour of trading approached. Spreads were also positive with Aug/Oct’26 sitting near to $6.00 against a solid volume, and though some end of day position trimming took place to nudge values back from the highs it remained solid at $5.50. Settlement at $450.00 leaves the May high mark of $457.70 back in view, though that area will continue to attract selling and so the appetite of the specs will be tested.